gulf keystone petroleum ltd (GVP) Related Bloomberg News

gulf keystone petroleum ltd (GVP) Related Businessweek News

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gulf keystone petroleum ltd (GVP) Details

Gulf Keystone Petroleum Limited engages in the appraisal, exploration, and production of oil and gas properties in the Kurdistan Region of Iraq. The company holds working interests in 4 exploration blocks, including Shaikan block that covers an area of 283 square kilometers; Sheikh Adi block covering an area of 180 square kilometers; Akri-Bijeel block, which covers an area of 889 square kilometers; and Ber Bahr block covering an area of 206 kilometers. Gulf Keystone Petroleum Limited was founded in 2001 and is based in Hamilton, Bermuda.

gulf keystone petroleum ltd (GVP) Key Developments

Gulf Keystone Petroleum Limited announced that all production and truck loading operations currently continue without interruption at both Shaikan production facilities (PF-1 and PF-2) in a safe and secure manner. On 29 July 2015, production totalled 43,700 barrels with 39,500 barrels (240 trucks) loaded by a domestic offtaker for onward sale. As announced on 9 July 2015, the company continues to implement its diversified marketing strategy. Under a direct contract with the domestic offtaker, Shaikan crude oil is delivered by truck from the Company's production facilities to the Turkish coast.

Gulf Keystone Petroleum Limited. Announces Board Changes

Jul 3 15

Gulf Keystone Petroleum Limited. announced that the company's Non-Executive Director V Uthaya Kumar has resigned from the Board on 2 July 2015. Non-Executive Directors Dr. Joseph Stanislaw and Maria Darby-Walker have decided to not seek re-appointment and will retire from the Board on the day of the company's annual general meeting on 9 July 2015.

A six-month agreement has been secured by Gulf Keystone Petroleum with a crude oil buyer in Iraqi Kurdistan. The terms of the deal covers that the London-listed group would offer between 12,000 and 40,000 barrels of oil per day (bpd) to an unnamed local buyer. Through this contract, it would develop Gulf Keystone's balance sheet, which recorded a cash position of $68.7 million as of June 26, even though the company is still owning oil payments from the region's government. The talks between the group and the Kurdistan Regional Government to set up a regular payment plan for crude oil purchases were currently in progress and it is expected to reach a solution over the coming months.

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